Schulze had in August made a bid at $24 to $26 a share
for the struggling retailer.

While Best Buy’s board had initially rebuffed
Schulze’s approach, it has since shifted its stance and is now open to a bid of
around $20 a share, The Post said on Monday citing sources close to the
company.

According to the report, the volte face by the company
is a result of the new Chief Executive Hubert Joly. Top executives of the
company have reportedly met with Schulze to discuss the offer and the prospect
of a potential buyout.

Indeed, Joly believes that a sale of the company in
the range of $20 a share would be “a good outcome” for Best Buy and its
investors, the report said quoting a source.

At that price the sale amount would be about $6.7
billion, much lower than the previous cost of more than $8 billion.

China's Alibaba group plans to buy a stake in micro
blogging site SINA Corp(NASDAQ:SINA) Weibo, according to a report in China
Business News.

The report said that the investment negotiations
between the two companies had entered the final phase.

Alibaba has valued Sina Weibo at around $3 billion,
the report said quoting sources.

The report quoted other domestic media sources who
reported that Alibaba plans to buy a 15-20 percent stake in Sina Weibo.

Alibaba, which runs Taobao Marketplace, China's
largest e-commerce website with a consumer focus, and Alibaba.com, China's
largest business-to-business commerce platform, has a business model that
revolves around online advertising and subscription fees, Reuters said.